NASDAQ$PPBI

Pacific Premier Bancorp Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported net income of $90.1 million and total revenue increased to $199.2 million.

Pacific Premier Bancorp reported a net income of $90.1 million, or $0.95 per diluted share, for the third quarter of 2021. Total revenue increased to $199.2 million. Loan and deposit growth were strong at 11.5% and 10.7% annualized, respectively.

  • Net income was $90.1 million, or $0.95 per diluted share.
  • Total revenue increased to $199.2 million, compared with $187.7 million in the prior quarter.
  • Loan and deposit growth of 11.5% and 10.7%, annualized, respectively.
  • Net interest margin of 3.51%, compared with 3.44% in the prior quarter

Headline financials

Total Revenue

$199M

Previous: $193M+3.0%
EPS (adj)

$0.95

Previous: $0.70+35.7%
Cost of deposits

0.1%

Previous: 0.2%-70.0%
Net interest margin

3.5%

Previous: 3.5%-0.8%
Return on average assets

1.7%

Previous: 1.3%+32.1%
Return on average equity

12.7%

Previous: 9.9%+28.0%
Return on average tangible common equity

19.9%

Previous: 16.4%+21.0%
Efficiency ratio

47.5%

Previous: 47.4%+0.2%
Capital Expenditures

$3.22M

Previous: $7.49M-57.1%
Free Cash Flow

$83M

Previous: $65.8M+26.2%
Net Income

$90.1M

Previous: $66.6M+35.4%
Operating Income

$123M

Previous: $90.5M+35.7%
Cash & Equivalents

$322M

Previous: $1.1B-70.8%
Total Assets

$21B

Previous: $19.8B+5.9%
Stock-Based Comp

$3.35M

Previous: $2.9M+15.5%

Revenue & EPS history

Pacific Premier · Revenue · Quarterly

$199M

Q3 2021+3%vs Q3 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Pacific Premier · $23.7M total across 9 segments · Q4 2021

  • Trust custodial account fees
    $11.6M
  • Earnings on bank owned life insurance
    $3.52M
  • Service charges on deposit accounts
    $2.59M
  • Escrow and exchange fees
    $2.22M
  • Net gain from sales of loans
    $1.33M
  • Debit card interchange fee income
    $769K
  • Other income
    $754K
  • Loan servicing income
    $505K
  • Other service fee income
    $391K

Forward guidance

Based on our actual and projected level of earnings for 2021, our estimated effective tax rate for the full year is expected to be in the range of 26 to 27%.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 11 quarterly earnings reports

Historical avg

-0.0%

Avg return

Earnings day

-1.1%

Avg return

5 days after

+0.8%

Avg return

30 days after

54%

34 / 63 earnings

Positive

+11.4%

Q4 2016

Best reaction

-15.6%

Q3 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2025
Q2 2025+6.6%+2.6%+14.7%
Q1 2025+5.6%+2.9%+5.1%
Q4 2025+2.0%+5.5%-1.3%
Q3 2024-3.0%+0.7%+11.1%
Q2 2024-5.4%-7.0%-7.4%
Q1 2024-1.9%-2.6%-2.4%
Q4 2023-3.4%-9.9%-19.1%
Q3 2023-9.4%-5.8%+13.0%
Q2 2023+0.4%+0.5%-10.6%
Q1 2023+5.9%-7.6%-6.2%
Q4 2022+2.4%+6.8%+8.8%
Q3 2022-1.8%+1.2%+4.0%
Q2 2022+1.1%
Q1 2022-7.8%
Q4 2021-6.7%
Q3 2021+2.8%
Q2 2021+2.0%
Q1 2021+2.5%
Q4 2020-2.2%
Q3 2020-5.0%
Q2 2020-1.7%
Q1 2020+8.3%
Q4 2019+0.9%
Q3 2019+4.9%
Q2 2019+4.0%
Q1 2019+0.9%
Q4 2018+1.2%
Q3 2018-15.6%
Q2 2018-2.5%
Q1 2018-2.8%
Q4 2017-1.5%
Q3 2017+2.2%
Q2 2017-1.6%
Q1 2017+0.8%
Q4 2016+11.4%
Q3 2016-3.6%
Q2 2016-6.5%
Q1 2016+7.3%
Q4 2015-1.7%
Q3 2015+0.4%
Q2 2015+6.0%
Q1 2015-1.3%
Q4 2014+1.7%
Q3 2014+2.6%
Q2 2014+2.0%
Q1 2014-11.6%
Q4 2013-0.1%
Q3 2013+1.1%
Q2 2013-4.5%
Q1 2013-4.3%
Q4 2012+6.2%
Q3 2012+5.6%
Q2 2012-1.0%
Q1 2011-0.7%
Q1 2012-2.1%
Q4 2009-3.0%
Q4 2011-3.0%
Q3 2010+5.2%
Q3 2011+5.2%
Q2 2011+1.4%
Q2 2010+1.4%
Q4 2010+1.4%
Q1 2010+0.8%

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